Launched in July 2015, the CFI Research Fellows Program encourages independent researchers and analysts to systematically examine some of the most important challenges in financial inclusion. Each year, we announce the research agenda in the form of a request for proposals, vet proposals for tackling the subject, and announce a new cohort of fellows. The Program affords fellows the opportunity to perform research, analysis, or writing on an important topic, and to share insights and recommendations broadly with the financial inclusion community.